Shares of Boingo Wireless Inc (NASDAQ:WIFI) have received a consensus rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.00.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 target price (down from $22.00) on shares of Boingo Wireless in a report on Wednesday. Northland Securities reaffirmed a “buy” rating on shares of Boingo Wireless in a report on Friday, August 2nd. William Blair reaffirmed a “buy” rating on shares of Boingo Wireless in a report on Friday, October 11th. Finally, Credit Suisse Group set a $28.00 target price on shares of Boingo Wireless and gave the company a “buy” rating in a report on Friday, August 2nd.
Shares of WIFI stock traded down $0.16 on Friday, hitting $12.36. The stock had a trading volume of 772,100 shares, compared to its average volume of 643,860. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.88. The company has a fifty day moving average price of $10.32 and a two-hundred day moving average price of $15.55. The firm has a market cap of $427.88 million, a P/E ratio of -412.00 and a beta of 0.99. Boingo Wireless has a twelve month low of $8.85 and a twelve month high of $26.67.
In related news, CEO Michael Finley purchased 10,000 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $11.00 per share, with a total value of $110,000.00. Following the acquisition, the chief executive officer now directly owns 61,873 shares in the company, valued at $680,603. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Derek Peterson sold 10,715 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $14.02, for a total transaction of $150,224.30. Following the completion of the transaction, the chief technology officer now directly owns 48,911 shares in the company, valued at $685,732.22. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its holdings in Boingo Wireless by 44.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,104 shares of the technology company’s stock valued at $134,000 after acquiring an additional 3,704 shares during the period. SG Americas Securities LLC raised its holdings in Boingo Wireless by 284.8% in the 3rd quarter. SG Americas Securities LLC now owns 124,745 shares of the technology company’s stock valued at $1,385,000 after acquiring an additional 92,326 shares during the period. Trellus Management Company LLC bought a new position in Boingo Wireless in the 3rd quarter valued at about $813,000. Oppenheimer & Co. Inc. raised its holdings in Boingo Wireless by 38.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,435 shares of the technology company’s stock valued at $393,000 after acquiring an additional 9,786 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Boingo Wireless by 248.9% in the 3rd quarter. California Public Employees Retirement System now owns 77,231 shares of the technology company’s stock valued at $857,000 after acquiring an additional 55,096 shares during the period.
Boingo Wireless Company Profile
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.
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